Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

U.S. Bank Premier Loan review

Last updated:  

You'll need to be a customer for at least three months to qualify.

finder.com’s rating: 3.5 / 5.0

★★★★★

  • Best for current U.S. Bank customers looking for competitive rates and no origination fee.
  • Pick something else if you haven't been a customer for at least three months.

$25,000

Max. Loan Amount

6.49% to 17.99%

APR

Details

Product NameU.S. Bank Premier Loan
Min. Loan Amount$3,000
Max. Loan Amount$25,000
APR6.49% to 17.99%
Interest Rate TypeFixed
Loan Term1 to 4 years
Turnaround TimeA few business days

Expert review

Aliyyah Camp

Review by


Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

U.S. Bank’s personal loans are ideal if you’ve been a customer with the bank for at least three months — you won’t qualify otherwise. Its loans come with competitive rates that max out relatively low compared to other lenders out there. You can qualify for a rate discount if you’re using the loan for green home improvements. And it doesn’t charge any origination fees.

But its loans max out at $25,000 — not ideal for covering larger projects or expenses. And like many banks, it’s not the fastest option out there — it can take a few days to get your funds after approval.

Not sold on U.S. Bank? Compare your other options below.

First, am I eligible?

To be eligible for a loan with U.S. Bank, you’ll need to meet the following requirements:

  • Excellent credit
  • Current U.S. Bank member
  • Have a verifiable source of income
  • At least 18 years old

In addition, you must hold a Silver, Gold or Platinum account for at least 120 days before applying.

Pros

  • Low maximum APR of 17.99%
  • No origination fee
  • Discounts for green home improvement loans
  • No collateral required
  • Lines of credit available

Cons

  • Low maximum loan amounts
  • Longer turnaround compared to online lenders
  • Must have a Silver, Gold or Platinum account for three months

What is a U.S. Bank Premier Line of Credit?

If you need more flexibility in your spending and don’t want to take out a personal loan, you also have access to unsecured lines of credit up to $25,000. These allow you to pick and choose how much money you spend, and since they’re unsecured, you won’t need to provide any collateral. As of January 2020, the APR was set at 11.75%. However, it may vary from month to month based on the Prime Rate.

U.S. Bank makes it easy to access your funds, too. You can withdraw your funds from an ATM, at a branch or online, and U.S. Bank provides both Premier Line Access Checks and a Visa Access Card. There are no annual fees, and you’ll only be charged interest on the money you borrow.

Compare other personal loan providers

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
4.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona personal loans
4.99% to 35.99%
Good
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
Monevo personal loans
3.49% to 35.99%
None
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Even Financial personal loans
4.99% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
Upgrade personal loans
7.99% to 35.97%
600
$35,000
Affordable loans with two simple repayment terms and no prepayment penalties.
loading

Compare up to 4 providers

How do I apply?

You can apply for a U.S. Bank personal loan online, over the phone or at your local branch. Follow these steps to get started online:

  1. Visit the U.S. Bank website and click Loans & Credit Lines, then select Personal Loans and Lines.
  2. Select Apply now under the product you want to apply for.
  3. Enter your customer ID.
  4. Fill out the application with information about yourself, your employment and your income.
  5. Read over U.S. Bank’s disclosures and submit your application.

What information do I need to apply?

Have the following information on hand to speed up the application process:

  • Social Security number
  • Date of birth
  • Proof of employment
  • Monthly income and debt payments
  • Total amount of your assets

What happens after I apply?

If approved, U.S. Bank will be in contact with you to finalize your loan application. You may be able to receive your funds within a few business days once you submit all necessary documentation.

How do repayments work with U.S. Bank Premier Loan?

You can repay your loan online, at a branch, by phone or through U.S. Bank’s mobile app. U.S. Bank has an autopay system that can help you avoid late fees. Your payment will be automatically deducted from your bank account.

Keep track of your loan account. If you notice anything wrong or have questions, reach out to U.S. Bank customer service.

See how U.S. Bank stacks up to the competition with our guide to personal loans. Or check out other loans offered by the bank.

Frequently asked questions

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

4 Comments

  1. Default Gravatar
    Connie
    June 4, 2018

    I’m looking for a loan for a RV

    • Avatarfinder Customer Care
      Joshua
      June 6, 2018

      Hi Connie,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      To obtain more information on how you can get an RV loan, please go to this page.

      You may also want to check this page for more loan options and get the money you need to purchase an RV.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    Walter
    October 12, 2017

    I applied for a us bank premier loan on 10/10/2017, I requested $10,000, now the online application status says loan amount $6000 but the application still in process. They sent me an e mail with a letter that states that my credit score is 684. What are the odds of getting approved for this loan?

    • Default Gravatar
      Liezl
      October 13, 2017

      Hi Walter,

      Thanks for reaching out.

      A credit score of 684 is a good rating. However, your credit score alone will not qualify or disqualify you for a loan although this determines your loan amount, rate and term. The bank will assess your overall eligibility based on the criteria mentioned above. Now if you’re unsure of your eligibility, I suggest you contact the bank and verify.

      Kind regards,
      Liezl

Go to site